Japan consumer prices stopped falling for the first time in 13 months, UAE regulators allow crypto trading in Dubai free zone

Japan’s consumer prices stopped falling in August, and it was the first time in 13 months. Prices excluding fresh food were unchanged on a yearly basis, in line with expectations. Despite the producer prices jumping by 5.5% in August, most businesses are not passing on the costs to consumers. The rise in the hotel costs was primarily due to the government’s “Go-To Travel” discounts. However, USDJPY is still on the rise, a combination of the USD’s growing strength and JPY’s continued weakness. Currently, the pair trades at 110.53, up about 0.2% in today’s session.

UAE regulators this week announced that it would facilitate the regulation and trading of crypto assets within the free zone. This initiative creates a framework that allows the Dubai World Trade Center Authority (DWTCA) to provide licenses and approvals for crypto-related financial activities. At press time, Bitcoin was up slightly in the session but still hovers below the 45,000-level.